India & the Hunt for Money

Posted Feb 13, 2016 by Martin Armstrong

COMMENT:

hi marty, i am from india. You ve no idea how much your blogs have helped me understand the duplicity of our governments. The Government has made mandatory registering our PAN card with the dealer for any purchase made for even as low as 2 lakh rupees (3600 dollars). They are literally hunting for money.They take everything from us and provide nothing. Thanks a lot. Please keep up the good work.

REPLY:I follow India closely as well. The PAN card (Permanent Account Number) is a code that acts as identification for Indians for tax purposes. They are hunting money in all forms from cash to gold. This culminates in 2017 when the G20 begins sharing info on everyone. Anybody with a foreign account will be revealed to their government. This is why government is collapsing. There is not enough money in the system to satisfy their demands.

In part, it has been the rising aggression for taxation that helped to push the stock market to new highs. In the 2012 report we warned that India would make new highs, and many wrote to ask if Socrates was drunk. How could we call for new record highs in India and not in China? The markets tells you where things are going if you just listen.